The Warehouse Group sells Torpedo7 for $1

February 23, 2024

Good Morning,

The Warehouse Group sells Torpedo7 for $1, Air NZ reports $129 million first-half profit, down 39%, Genesis profit falls 74%, EU approves new sanctions package against Russia, Comvita receives non-binding bid at ‘significant premium’, Nikkei parties like it's 1989; scales record high and Private US spacecraft enters orbit around the moon ahead of landing attempt.

Let's jump in.

Before The Bell

Markets

  • Nikkei parties like it's 1989; scales record high (RT)

Earnings and Data

  • Air NZ reports $129 million first-half profit, down 39% (Stuff)

  • Fortescue’s first-half profit soars 41pc (AFR)

  • Qantas’ Vanessa Hudson delivers a pitch-perfect profit drop (AFR)

  • Genesis profit falls 74% (NBR)

  • Port of Auckland lifts council pay out by 33% (NBR)

  • Pekao recommends record dividend as Q4 profit nearly doubles (RT)

  • Lloyds profit rises despite murky UK outlook, motor finance charge (RT)

News Summary

  • ‘It’s just war’: What’s really behind the face-off between Air NZ and Auckland Airport (Stuff)

  • SkyCity waits for licence suspension update (Stuff)

  • Private US spacecraft enters orbit around the moon ahead of landing attempt (Stuff)

  • ‘We’re not the Soviet Union’: PM rules out breaking up Coles, Woolies (AFR)

  • 4WDs to be phased out quicker than utes under clean car plan (AFR)

  • Tabcorp blames states for $732m write-down as shares crash (AFR)

  • We’re done talking about Covid – Auckland Airport (NBR)

  • No further rate hikes needed: KiwiBank CEO (NBR)

  • Exclusive: Iran sends Russia hundreds of ballistic missiles (RT)

  • EU approves new sanctions package against Russia (RT)

  • Chinese planemaker COMAC upstages Airbus and Boeing at Singapore Airshow (RT)

  • Taiwan chip firms flock to Japan as China decoupling accelerates (RT)

  • Dealmaking Booms in Japan as Most of Asia Suffers Through Bust (BBG)

  • China ‘Quant Quake’ Resembles 2007 US Meltdown, Man Group Says (BBG)

  • Scotland’s Fuel Binge Offers Glimpse of Future Without Refinery (BBG)

  • Nvidia Surges After Company Proclaims AI Has Hit 'Tipping Point' (BBG)

Deal Flow

Investments / M&A

  • The Warehouse Group sells Torpedo7 for $1 (Stuff)

  • Saint-Gobain’s $4.3b bid for CSR two years in the making (AFR)

  • Comvita receives non-binding bid at ‘significant premium’ (NBR)

  • AbbVie Eyes Selling at Least $13 Billion of Bonds to Fund M&A (BBG)

VC & Fundraising

  • CVC Adds to Fundraising Spree With $6.8 Billion Asia Fund (BBG)

Equity Raises

  • EV play Electromotiv launches funding round (AFR)

The Daily Deck is sponsored by Industrial Equity, LLC

Reply

or to participate.